Advocacy - Comment Letters

NASBP Comments on FASB Revenue Recognition Proposal

These are the comments that NASBP sent to FASB on October 13, 2010 with regard to the Exposure Draft on Revenue Recognition from Contracts with Customers. This issue is particularly of concern to the surety industry, since the Financial Accounting Standards Board (FASB) isssued its Exposure Draft, Revenue from Contracts with Customers in June 2010. The FASB proposal would have a significant and undesirable impact on how contractors prepare their financial statements and how surety professionals review their financial documents. Comments on the Exposure Draft were due to FASB on October 22, 2010.